EX-99.3 4 0004.txt EXHIBIT FS-3 ACE
Exhibit FS-3 ACE ATLANTIC CITY ELECTRIC COMPANY ACTUAL CONSOLIDATED STATEMENT OF INCOME FOR THE TWELVE MONTHS ENDED SEPTEMBER 30, 2000 (Dollars in Thousands) (Unaudited) Actual ---------------- OPERATING REVENUES $ 962,332 ---------------- OPERATING EXPENSES Electric fuel and purchased energy and capacity 421,073 Operation and maintenance 257,777 Depreciation and amortization 103,002 Taxes other than income taxes 42,636 ---------------- 824,488 ---------------- OPERATING INCOME 137,844 ---------------- OTHER INCOME 5,909 ---------------- INTEREST EXPENSE Interest charges 73,589 Allowance for borrowed funds used during construction and capitalized interest (860) ---------------- 72,729 ---------------- PREFERRED STOCK DIVIDEND REQUIREMENTS OF SUBSIDIARIES 7,619 ---------------- INCOME BEFORE INCOME TAXES AND EXTRAORDINARY ITEM 63,405 INCOME TAXES, EXCLUDING INCOME TAXES APPLICABLE TO EXTRAORDINARY ITEM 21,556 ---------------- INCOME BEFORE EXTRAORDINARY ITEM 41,849 EXTRAORDINARY ITEM (Net of $28,061 of income taxes) (40,612) ---------------- NET INCOME 1,237 DIVIDENDS ON PREFERRED STOCK REDEMPTION 2,132 ---------------- LOSS APPLICABLE TO COMMON STOCK $ (895) ================ See accompanying Notes to Consolidated Financial Statements on FS-8.